Kenneth Irvine Chenault
June 2, 1951
Mineola, New York, U.S.
|Education||Bowdoin College (BA)|
Harvard University (JD)
|Occupation||Former CEO of American Express|
Kenneth Irvine Chenault (born June 2, 1951) is an American business executive. He was the CEO and Chairman of American Express from 2001 until 2018. He is the third African American CEO of a Fortune 500 company.
Early life and education
Chenault was born in Mineola, New York, Nassau County, the son of a dentist and dental hygienist. His father, Hortenius Chenault, was a graduate of Morehouse College and Howard University Dental School. The elder Chenault passed the New York State dental exam with the highest score ever recorded as of January 2014. Chenault was a member of Phi Beta Sigma fraternity. Kenneth Chenault attended the Waldorf School of Garden City, where he served as senior class president. He then received a B.A. in history from Bowdoin College in 1973 and a J.D. from Harvard Law School in 1976.
Chenault has served on several boards throughout his career. Beginning in 2007, he served on the Executive Committee of the Business Roundtable and a member of the Council on Foreign Relations. Chenault served as a member of the Executive Committee of The Business Council in 2011 and 2012.
In 1995, Ebony listed him as one of 50 "living pioneers" in the African-American community. Chenault was inducted into the Junior Achievement U.S. Business Hall of Fame in 2002. In 2008, he gave the commencement address at Howard University.
As CEO of American Express in 2007 and 2008, Chenault earned a total compensation of $50,126,585 and $42,752,461 respectively. In 2009, he earned a total compensation of $16,617,639, which included a base salary of $1,201,923, a cash bonus of $10,450,000, an option grant of $3,985,637, and other compensation worth $980,079. In 2016, Chenault earned a total compensation of $22 million.
On October 18, 2017, he announced that he would retire as its chairman and chief executive on February 1, 2018. He was succeeded by Stephen J. Squeri. In December 2018, it was announced that Chenault would step down from his board roles at IBM and Procter & Gamble on February 13, 2019.
In January 2018, Chenault announced he would become chairman and managing director of General Catalyst Partners and joined the board of directors of Airbnb. Chenault has served on the board of directors of Facebook since February 2018. In March 2020 it was announced that Chenault was stepping down from the Facebook board and joining the board of Berkshire Hathaway, replacing Bill Gates.
On November 15, 2010, Old North Foundation recognized Chenault with its Third Lantern Award for individual commitment and dedication to public service. The Foundation honored Chenault and American Express for their significant contributions to the preservation efforts of many significant monuments and landmark structures, including the steeple of the Old North Church. Chenault and wife, Kathryn, are founding donors to the Art for Justice Fund, which aims to reduce prison populations and strengthen employment opportunities for those leaving.
On February 10, 2014, it was announced that he had been elected to fill a vacated seat of the Harvard Corporation; the Corporation is the chief fiduciary authority of the University and is the smaller of the two governing boards, the other being the Harvard Board of Overseers.
On February 6, 2017, Chenault was named Chair of the Advisory Council for the Smithsonian's National Museum of African American History and Culture.
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- See for example the transcript of a luncheon over which he presided: "New Realities in the Media Age: A Conversation with Donald Rumsfeld". Council on Foreign Relations. February 17, 2006. Archived from the original on August 10, 2008. Retrieved 2007-05-11.
- The Business Council, Official website, Executive Committee Archived 2013-07-21 at the Wayback Machine
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- May commencement speakers announced Archived 2010-03-25 at the Wayback Machine, Northeastern University, March 22, 2010. Accessed 2010-03-23.
- 2007 CEO Compensation for Kenneth I. Chenault Archived 2009-04-14 at the Wayback Machine, Equilar
- 2008 CEO Compensation for Kenneth I. Chenault Archived 2009-04-14 at the Wayback Machine, Equilar
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- "Former AmEx Chief Ken Chenault Leaves Director Posts at P&G, IBM". www.bloomberg.com. Retrieved 2019-01-09.
- Sorkin, Andrew Ross (2018). "For His Next Act, Ken Chenault Turns His Focus on Silicon Valley". The New York Times. ISSN 0362-4331. Retrieved 2018-02-23.
- Carson, Biz. "Airbnb Adds Outgoing American Express CEO Kenneth Chenault To Board of Directors". Forbes. Retrieved 2018-06-05.
- "Investor Relations". Facebook. Retrieved May 6, 2018.
- Reuters: March, 13, 2020:
- Black Enterprise: March, 13, 2020: Kenneth Chenault leaves Facebook board as he is appointed to board of Berkshire Hathaway
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- Pogrebin, Robin (2017-06-11). "Agnes Gund Sells a Lichtenstein to Start Criminal Justice Fund". The New York Times. ISSN 0362-4331. Retrieved 2017-09-20.
- "National Museum of African American History and Culture Names Kenneth I. Chenault Chairman of its Advisory Council". National Museum of African American History and Culture. 2017-02-06. Retrieved 2019-03-19.
- "NCAA adds 5 independent voices to Board of Governors". Washington Post. April 30, 2019. Retrieved 2019-05-13.
- Sexton, Julia (2009-01-23). "Westchester Magazine". Westchester Magazine. Archived from the original on 2011-07-18. Retrieved 2012-03-20.
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| CEO of American Express